Details of first day of PM Internship Scheme revealed after launch event postponed – CNBC TV18

The pilot project of the Prime Minister Internship Scheme was launched on Monday, December 2. However, the program to formally launch it was postponed. The Ministry of Corporate Affairs (MCA) said the first batch of trainees from 625 districts have started their internships across 34 states and union territories. According to sources, more than six lakh registrations took place on the internship portal.

CNBC-TV18 had earlier reported that the scheme had registered over 1.5 lakh candidates within just 24 hours of its launch on October 12. The government was targeting 1.25 lakh internship opportunities for the current financial year.

Also read: PM Internship Scheme set to get major changes – here are all the details

The scheme aims to address youth unemployment by connecting youth with top companies looking for talent. The government had fixed a budget of Rs 800 crore for this pilot project. The scheme will provide an opportunity to do internship in top 500 companies of India for 12 months with an allowance of ₹5000 per month and ₹6000 as a one-time grant.

“This internship initiative will equip our young workforce with practical skills, align them with industry needs and help bridge the gap between education and employment,” Finance Minister Nirmala Sitharaman said during her budget presentation.

The scheme was open to candidates aged 21-24 from families with an annual income of less than ₹8 lakh and cannot be enrolled in a formal degree program or employed. However, people taking online courses or vocational training were eligible for registration.

Also read: PM Internship Scheme: CII’s Aditya Ghosh urges India’s youth to make the most of the program